Monday, November 5, 2012

Coeur d'Alene Mines Corporation (NYSE: CDE)

Coeur d'Alene Mines Corporation, together with its subsidiaries, engages in the ownership, operation, exploration, and development of silver and gold mining properties primarily located in the United States, Mexico, Bolivia, Argentina, and Australia. Its properties include the San Bartolome silver mine in Bolivia; the Palmarejo silver-gold mine in Mexico; the Kensington gold mine in Alaska; and the Rochester silver-gold mine in Nevada. The company owns and operates the Martha silver-gold mine in Argentina, as well as owns a non-operating interest in a silver-base metal mine in Australia. Coeur d'Alene Mines Corporation was founded in 1928 and is based in Coeur d’Alene, Idaho.

To review Coeur d’Alene’s stock, please take a look at the 1-year chart of CDE (Coeur d’Alene Mines Corporation) below with my added notations:


1-year chart of CDE (Coeur d’Alene Mines Corporation)


After bumping up against the $30 resistance (blue) from November through February, CDE sold off into July. The stock rallied strongly from there and ran into resistance again at $30. So, CDE has created a consistent 52-week high resistance at the $30 level. The stock moved above that level this week and should be continuing higher overall from here.

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